Another sad sign of the times… staff at the Oldham Evening Chronicle - a family-owned daily newspaper - have been told they must take a week of unpaid leave.

The week's leave - which must be taken some time between 1 December and 1 March 2013 - amounts to an effective pay cut of 7%.

It is, of course, cost-cutting measure, one aimed at preventing job cuts, as the editor, Dave Whaley, explained to HoldTheFrontPage. It follows a cover price rise, up by 5p to 60p.

According to the latest ABC figures, the Chronicle sold an average of 12,849 copies a day (Monday to Friday) in the six months from January to June this year. That was 11% fewer than during the same period in 2011.

The paper, first published in 1854, was acquired three years later by Jonathan Hirst and Wallace Rennie. And the Hirst family have maintained that connection ever since. Its current owners are Hirst, Kidd and Rennie.

This is a reminder that the media downturn is affecting all companies, whatever their size, whatever the motives and wishes of their owners.